Corner Storefront
For Sale
$399,900
1301 E 2nd St, Odessa, TX 79761
Light Industrial-zoned corner property suited for renovation and commercial reuse.
Property Size1,972 SF
Lot Size0.05 Acres
Price / SF$202.79
Days on Market54
Property Features for 1301 E 2nd St
General Information
Standard status
Active
Size
1,972 SF
Lot size
0.05 Acres
Zoning
Light Industrial LI
Property Condition
Severity
Repairs Needed
Evidence
Needs a renovation
Additional Details
Asking Price
$399,900
Corner Location
Yes
Building Details
Year Built
1962
Listing Agency:
Pine & Beckett - Chris Beckett
Listed By:
Chris Beckett Broker Owner CRS GRI ASR e-Pro · License #0439538
(512) 796-4340
Source:
Rickerlooney
Added: Aug 16
Changed: Sep 12
Last Checked: Oct 7 at 5:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pine & Beckett - Chris Beckett
Investment Insights
Based on property information with market context.
This storefront property occupies a corner at 1301 E 2nd St in Odessa, at the intersection of Dixie and 2nd St/Bus. 20. The building was formerly used as a gas station, and no tanks are on site. The property is zoned Light Industrial (LI) and is being offered in its present condition, with renovation needed.
Traffic counts reported through the RPR are 19,000 cars per day on 2nd/Bus. 20 and 11,500 cars per day on Dixie. The approximately 0.052-acre lot provides a compact setting for the existing commercial structure. No remediation reports or inspections are included, and the property is not currently in the ODC Building Redevelopment Bond Program.
Traffic counts reported through the RPR are 19,000 cars per day on 2nd/Bus. 20 and 11,500 cars per day on Dixie. The approximately 0.052-acre lot provides a compact setting for the existing commercial structure. No remediation reports or inspections are included, and the property is not currently in the ODC Building Redevelopment Bond Program.
Key Highlights
- Corner location at 1301 E 2nd St, Odessa, TX 79761
- Light Industrial (LI) zoning
- Former gas station with no tanks on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,409
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,180
$528.2K
Cap Rate 7%
$377,271
$377.3K
Cap Rate 9%
$293,433
$293.4K
Market Conditions
NOI Build-Up for 1,972 SF
Gross rent
$37.9K $19.20/SF
− Vacancy
−$2.7K −$1.34/SF
EGI
$35.2K $17.86/SF
− OpEx
−$8.8K −$4.46/SF
NOI
$26.4K $13.39/SF
Area
Odessa, TX
Vacancy
7.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$528,180
Cap Rate 7%
$377,271
Cap Rate 9%
$293,433
Alternative Uses
Best Use
Specialty Retail
$377.3K
$330.1K – $440.2K
NOI $26,409 @ 7.0% cap · market cap 6.60%
Second Best
Retail
$314.0K
$274.7K – $366.3K
NOI $21,977 @ 7.0% cap · market cap 5.50%
Theoretical Best
Flex RnD
$2.87M
$2.51M – $3.34M
NOI $200,679 @ 7.0% cap · market cap 50.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,234
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79761, TX
30,187
Population
13,591
Households
2.2
Avg Household Size
35
Median Age
14%
College-Educated
76%
High-School Grad
10.4 sq mi
ZIP Area
2,903
Density / Sq Mi
$69,279
Median Household Income
$42,724
Median Earnings
$1,246
Median Rent
$158,400
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Light Industrial-zoned corner property suited for renovation and commercial reuse.
Where is this storefront property located?
The property is located at 1301 E 2nd St Odessa, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Corner location at 1301 E 2nd St, Odessa, TX 79761; Light Industrial (LI) zoning; Former gas station with no tanks on site
